AMDA 24c up 7% - Breakout alert... Analyst has a $1 target & Rates AMDA a BUY. Several big announcements just ahead including FDA approval
Needham & Company analyst Mike Matson lowered his price target on Amedica Corporation (NASDAQ: AMDA) to $1.00 (from $3.00) but maintained a Buy rating following disappointing Q1 results.
Matson commented, "AMDA's 1Q15 revenue and EPS were below consensus. Revenue declined 18% Y/Y and 8% sequentially as silicon nitride (SiN) implant sales growth slowed to 7%. AMDA lowered its 2015 revenue guidance to $19-20M from $23-24M (vs. consensus of $23.3M) with SiN growth of 15-20% (vs. 30-40% previously). We expect the composite cervical spacers to be cleared by the FDA later this year and to serve as a growth driver, and we also expect additional private label and/or OEM agreements (AMDA expects four additional agreements this year) to serve as catalysts and to drive revenue growth."
Sustainable profitability is the opporite of what we have seen the last 4 quarters " Sustainable losses"
He echoes what Mr Tulman said at IPC in February:
Eltek's Deputy CEO Roberto Tulman when asked a question about the PCB market this year stated the following during an interview in this year's IPC APEX EXPO conference held in late February 2015 in the San Diego Convention Center in San Diego, California: "The market was slow the last few months of 2014, but we are seeing a pickup in February already. We believe the market going forward will be very good for us....we are seeing very nice orders for the coming months.."